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How to Make It on Craigslist

blog.priceonomics.com

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Re: How to Make It on Craigslist

#91

Post by icebraining »

mistermann wrote: post #23
mahannay wrote: post #17

It's very impressive that he's able to earn so much money and support his family via Craigslist, but I can't help but think about how useful (or not useful, really) his job is for the overall economy. Basically, he's another middleman - buying goods for a low price and selling them higher. Without him in the picture, buyers could have purchased their items for less and saved money. I just don't see how this job adds…

Not to mention, when i give something away on cl, I'd like it to go to someone that needs it, not a wheeler dealer parasite living off the goodwill of others. Imho

Nobody forced you to give him the stuff. As long as he's not lying about what he does - and we have nothing to indicate that he is - the seller is free to make that decision for themselves.

Re: How to Make It on Craigslist

#92

Post by reader5000 »

jccc wrote: post #33
tocomment wrote: post #19

Earlier quoted context omitted.

Well, he is delivering them, and taking old appliances away when he delivers them. There is a lot of value in that. He is also adding "liquidity" to the "market" by immediately buying new listings, and holding them for a few days until the right buyer comes along. Without someone like him the seller would have to wait several days to find the right buyer.

I doubt very much that sellers would appreciate this liquidity "service" if it were spelled out for them. They would feel cheated, as would the buyers.

There is nothing to "spell out" for the sellers since nobody knows at what max price an item will sell. When the original seller sets a price, they are balancing their need to move the item with how much they think they can get. When the arbitrageur buys an item they are offering immediate liquidity and accept not only the item but the risk that they will not be able to move it at a profit (or break even). Liquidity and transferring risk away from original sellers is the value this offers to the CL community.

Re: How to Make It on Craigslist

#93

Post by ssharp »

What about operating in bigger markets, like cars, trailers, RV's, etc. ?

Or are those markets too competitive? Having sold cars on Craigslist before, I know that there are people who are offering low values, fast sales, shortly after posting in hopes of finding a desperate seller, so maybe these people make profit much less likely for a trader.

Re: How to Make It on Craigslist

#94

Post by icebraining »

jccc wrote: post #47
dcarlson wrote: post #42

Earlier quoted context omitted.

I disagree. He does add real value. 1) He retakes clear photos of the merch at a variety of angles - something that many craigslist postings lack 2) He himself has a threshold of quality, and inspects the product before picking it up from the original seller - I would much rather trust a guy who buys 10 cordless drills a week on craigslist to know the drill is bad, than relying on my limited knowledge of cordless dri…

What kind of "value" is added that is secret? Don't you think buyers and sellers alike should know up front what they're paying for? To the seller: I'm going to make probably $100 on this washer in a couple days by Windexing it and taking some good photos. That's your fee for my pickup and selling "service." To the buyer: I bought this washer a couple days ago for $100 less. That's your fee for my delivery and vettin…

Don't you think buyers and sellers alike should know up front what they're paying for?

I'd like to know how much is e.g. Apple paying Foxconn for each iPhone, doesn't mean I think they're wrong for not telling me.

(Purely hypothetical example, I don't buy stuff from Apple)

Re: How to Make It on Craigslist

#95

Post by nollidge »

thinkdevcode wrote: post #39
chc wrote: post #18

Earlier quoted context omitted.

I think you're missing a variable that equals "Having zero debt at all times is not everyone's highest priority".

Let's rephrase your statement: "Paying back on things you've already purchased with someone elses money is not everyone's highest priority" Now we take this statement and multiply it by 34 million, and we have the reason why America's total US consumer debt is 2.43 trillion. I dont mean to nitpick, but I get really annoyed when people do extravagant things when they can't afford it.

If someone pays their debts according to the pre-agreed schedule (e.g. meets the mortgage payment every month), there's absolutely no reason to make moral judgments on how they spend the rest of their cash.

Re: How to Make It on Craigslist

#96

Post by mey »

roseburg wrote: post #63
redsymbol wrote: post #8

The greatest part of this story is what Ryan accomplished personally. From reading, he went from someone who consistently had great trouble professionally, to someone who is successfully able to support himself and his family financially. Ryan, if you're reading this, congratulations! This appears to be a major personal accomplishment and milestone for you. Best of luck as you grow into your next level of success.

Thanks! Appreciate it.

Personally I've always considered craigslist to be sketchy from a buyer or seller point of view. Since I live in Portland, I'll keep you in the back of my mind if I need to get rid of anything I don't have time to handle myself. I'd rather work with someone trustworthy then deal with the unknowns of craigslist.

(Welcome to self branding. :) )

Re: How to Make It on Craigslist

#97

Post by kevinpet »

dangrossman wrote: post #82

This sounds like a mess to keep proper tax records for. Assuming nobody's giving receipts on either side of the transaction, how do you keep proof of what price you paid and what price you sold for? Audits aren't that rare.

Presumably the email would cover some of this. Records don't need to be something out of CSI, you just have to have them.

Re: How to Make It on Craigslist

#98

Post by nir »

I always wondered how much one can make by buying AC units on Craigslist in December and selling them off in June, in a place like NYC where weather gets very hot/cold :)

Re: How to Make It on Craigslist

#99

Post by capsule_toy »

thinkdevcode wrote: post #53
awj wrote: post #48

Earlier quoted context omitted.

> I dont mean to nitpick, but I get really annoyed when people do extravagant things when they can't afford it. Everyone does. Good luck getting people to settle on your definitions of "extravagant" and "afford."

Your absolutely correct that we all have different perceptions of "extravagance" I think a vacation to hawaii from portland for a family of four while still in debt is clearly extravagant, and unaffordable. But's thats just my opinion, and I dont expect you, or anyone else, to share it. Debt shouldn't be seen as ok to have but I think that is sadly how most Americans view it now.

The problem isn't debt but debts that aren't paid back. Debt itself serves a useful purpose. As long as he's able to service his debts under the terms agreed upon, the rest of his money is his to use as he pleases. I don't think we know enough about his finances, like the cost of the trip, to be able to say that the trip was clearly unaffordable.

Re: How to Make It on Craigslist

#100

Post by dotBen »

dangrossman wrote: post #82

This sounds like a mess to keep proper tax records for. Assuming nobody's giving receipts on either side of the transaction, how do you keep proof of what price you paid and what price you sold for? Audits aren't that rare.

Not speaking for this individual in particular but in general its unlikely that businesses like this are going to report all of their earnings, are they? You can audit a cash business but with no receipts whole transactions never happened or have a paper trail.

I'm not condoning tax avoidance but remember most of the people on HN either earn six figures a year, will do in a few years and/or building startups that might be worth $millions.

This guy is making $15-30/hr, doing part-manual labor and has 4 kids and a wife to feed.

I guess it's a moral judgement but I feel less concerned if he was to not run all of his cash payments through his books compared to bankers and millionaires who put large amounts of money offshore to avoid tax.

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